ФИНАНСИЈСКА РЕВИЗИЈА ЈАВНОГ СЕКТОРА – ОСНОВА ЗА АКТИВНИ ПОСЛОВНИ АМБИЈЕНТ
FINANCIAL AUDIT OF THE PUBLIC SECTOR – THE BASIS FOR THE CURRENT BUSINESS ENVIRONMENT

Summary/Abstract: The accounting standards and legal regulations require companies to show property to true and objective manner. Various regulations have been ordered arrangement of relations in public enterprises, in order to materially and formally correct representation of their financial accounting statements. Management of public companies to avoid mass introduction of such property in the property fund company, because it creates an obligation revaluation and depreciation calculation mentioned property, which has the effect of increasing costs, reducing net results, which mainly result in negative financial result. On the preparation and publication of annual financial reports directly affects a number of requirements and those relating to accounting assessment, and requirements for disclosure, ie. Disclosure in the prescribed form. The main objective of these requirements is to create conditions for fair and honest financial reporting of many investors. To understand the true significance of the financial audit function is necessary to bear in mind that is always present a real possibility of a mismatch of interests of management companies which have a decisive impact on the preparation of annual financial reports with the interests of investors whose assets, thus, may be exposed to loss. If we take into consideration the place and role of investors in the overall national economy, it is evident that the importance of financial auditing functions to ensure confidence in the mechanism of capital markets and the state as regulator and controller of the mechanism.

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